Mine development company Orion Minerals has achieved a vital funding milestone in very difficult market circumstances., S2 Research’s Simon Hudson-Peacock states in an analysis of the convertible loan of the Industrial Development Corporation (IDC) and a valuation update. Orion’s Prieska Copper-Zinc Mine is now firmly on its way towards commercial production in the Northern Cape following the R250-million IDC kickstart in exchange for what S2 Research estimates is an effective 16.5% economic interest in the mine.
